India's $86.5 bn in exports to US could be significantly impacted but it is expected to remain a preferred country for manufacturing.

Donald Trump has unveiled a new set of tariffs affecting numerous countries, most of them are set to face the new tariffs from 7 August. This move could challenge global economies, as several nations have yet to finalise trade agreements with the Trump administration. A minimum tariff of 10% is now applied globally.

President Donald Trump’s move to penalise India for buying oil and arms from Russia will increase economic risks for the South Asian nation and test its longstanding ties